Why can't we see big companies' tax returns?

As Russell Brandom writes, "before 1976, corporate tax returns were broadly considered part of the public record" and there's been bipartisan support since for mandating that big companies show us how they're structuring their earnings (this was especially urgent after the Enron scandal). Read the rest

How the GOP's simplified Border Adjustment Tax will be instantly riddled with loopholes

The GOP is advocating for a "Border Adjustment Tax," which is something like a complicated Value Added Tax that is meant to encourage companies to on-shore or re-shore their manufacturing, without raising prices for Americans (because the US dollar is supposed to rise by up to 25% (!) as a result), while removing the complexity that allows companies to dodge tax by finding loopholes. Read the rest